Vancouver, BC -- (SBWIRE) -- 12/21/2020 -- Electric Commercial Vehicle Market

The proliferation of the industrial sector in emerging countries and the advent of commercial operations in logistics has increased the demand for commercial vehicles. This demand is forecasted to soar over the coming years, attributable to the improving economic status across the world. According to a report by Emergen Research, the global Electric Commercial Vehicle Market is anticipated to be valued at USD 339.78 Billion by 2027, expanding at a CAGR of 34.8%.

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Market Drivers

The significant factor stimulating the market growth is the extensive rise in the sales of electric commercial vehicles across the world attributable to the decreasing costs of battery and growing adoption of electric commercial vehicles by the logistics sector. Moreover, the extensive advancements in the EV infrastructure technology, battery management, and enhanced electric vehicle sustainability are adding traction to market growth. The rising initiative by the government to deploy electric vehicles on the highway and the development of fast public charging infrastructure is anticipated to create lucrative opportunities for the industry.

Key participants include: Yutong, BYD, VDL Groep, Proterra, AB Volvo, NFI Group, Daimler AG, King Long, Ebusco B.V., and Ankai, among others.

Component Outlook (Revenue, USD Billion; 2017-2027)
Electric Motor
Electric Vehicle Battery
Hydrogen Fuel Cell

Propulsion Type Outlook (Revenue, USD Billion; 2017-2027)
BEV
PHEV
FCEV

Vehicle Type Outlook (Revenue, USD Billion; 2017-2027)
Electric Bus
Electric Truck (Medium and Heavy Duty Trucks)
Electric Pick-up Truck
Electric Van

Battery Type Outlook (Revenue, USD Billion; 2017-2027)
Lithium-iron-phosphate (LFP)
Lithium-nickel-manganese-cobalt oxide (NMC)
Others

Range Outlook (Revenue, USD Billion; 2017-2027)
less than 150 Miles
150-300 Miles
Above 300 Miles

End-User Outlook (Revenue, USD Billion; 2017-2027)
Last-Mile Delivery
Distribution Service
Field Service
Refuse Service
Long Haul Transportation

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Regional Analysis

The Asia Pacific is forecasted to command the market growth during the forecast years owing to China being the largest market for electric buses in the world. China leads the market growth with the country reporting massive sales of electric commercial vehicles. This has led to an escalating need for fast charging infrastructure to back the rising population of electric commercial vehicles.

Global Electric Commercial Vehicle Market Report – Table of Contents:

Chapter 1 includes the global Electric Commercial Vehicle market introduction, followed by the market scope, product offerings, growth opportunities, market risks, driving forces, and others.
Chapter 2 broadly categorizes the Electric Commercial Vehicle market on the basis of geography, and determines the sales, revenue, and market shares of each region over the estimated period.
Chapter 3 elaborates on the competitive outlook of the Electric Commercial Vehicle market, focusing on the major manufacturers and vendor landscape.
Chapter 4 exhaustively studies the key manufacturers of the Electric Commercial Vehicle industry, along with their anticipated sales and revenue shares.
Chapters 5 includes market segmentation based on product type, application range, and market players.

The report considers the following timeline for market estimation:

Historical Years: 2017-2018
Base Year: 2019
Estimated Year: 2027
Forecast Years: 2020-2027

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About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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